NIO (NYSE:NIO) Shares Down 3.8% – Here’s Why

Shares of Nio Inc – (NYSE:NIO) fell 3.8% during trading on Tuesday . The company traded as low as $4.12 and last traded at $4.17. 23,854,142 shares traded hands during trading, a decline of 41% from the average session volume of 40,664,445 shares. The stock had previously closed at $4.33.

Analyst Ratings Changes

Several research analysts have weighed in on NIO shares. HSBC downgraded shares of NIO from a “buy” rating to a “hold” rating in a report on Tuesday, January 7th. Hsbc Global Res lowered shares of NIO from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 7th. JPMorgan Chase & Co. downgraded NIO from an “overweight” rating to a “neutral” rating and cut their price target for the company from $7.00 to $4.70 in a research note on Tuesday, February 4th. Macquarie downgraded NIO from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Finally, The Goldman Sachs Group lowered NIO from a “neutral” rating to a “sell” rating and dropped their target price for the company from $4.80 to $3.90 in a report on Monday, November 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $5.38.

NIO Stock Down 5.9 %

The stock has a 50 day moving average price of $4.42 and a 200 day moving average price of $4.76. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.93 and a current ratio of 1.04. The company has a market capitalization of $8.51 billion, a P/E ratio of -2.71 and a beta of 1.69.

Institutional Trading of NIO

Hedge funds have recently added to or reduced their stakes in the stock. Sei Investments Co. grew its position in shares of NIO by 9.8% during the 4th quarter. Sei Investments Co. now owns 137,016 shares of the company’s stock valued at $597,000 after acquiring an additional 12,222 shares during the period. American Century Companies Inc. grew its holdings in NIO by 6.3% during the fourth quarter. American Century Companies Inc. now owns 595,533 shares of the company’s stock valued at $2,597,000 after purchasing an additional 35,464 shares during the period. Harvest Fund Management Co. Ltd increased its position in NIO by 26.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 120,421 shares of the company’s stock worth $525,000 after buying an additional 25,000 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of NIO in the fourth quarter valued at $204,000. Finally, PDS Planning Inc raised its stake in shares of NIO by 13.0% in the fourth quarter. PDS Planning Inc now owns 22,786 shares of the company’s stock valued at $99,000 after buying an additional 2,627 shares during the period. Institutional investors own 48.55% of the company’s stock.

NIO Company Profile

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.